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. a relentlyly growing deficit of opportunity is a bigger threat to our future than our rapidly shrinking fiscal deficit. >> david, rapidly shrinking, the deficit is going down. is he ignoring our growing $17 trilli $17 trillion debt and a deficit higher than the one he received from his predecessor? >> the debt is higher. we would be in much better economic shape and young people would have better job opportunities if we weren't shrinking so fast. we have gone from 10%, basically what he inherited down to 4% of the economy and on the way down to 2% by the end of the president's term. if he were not to doing this about spending and we were invest can in the future, in education, research, we are seeing american research going to china and we are not spending tax dollars on basic research, which corporations don't do. >> that's always been done by government. so, neither the finding about young people is surprising, nor is the president's focus. yeah, we have brought down the deficit is what he is saying, significantly, 90% of americans seem to be unaware of this. >> david, there are more than 10
was expected. that has affected the fiscal position. by this time, the forecast was that the budget deficit would be 60 billion pounds. it is 120 billion pounds. that was supposed to start coming down in 2015. it will not peak until two years later. the fact that the economy has not recovered as fast as projected has caused the budget deficit problem to become much worse than it would've been had the economy grow faster. you might say that was just bad luck. i think the slow recovery, almost lack of recovery for two years, was a result of the austerity policy. a recovery,we have does austerity make more sense? placet faith can we in the new forecast? we were supposed to grow two point four percent this year. it will be about 0.8%. >> they are revising the incomes around 1.5%. >> ok. things are improving. then you go forward to the next year in the year after. then you have to ask what are the drivers of a broad-based recovery going to be? i think that it is very narrow. prices, assets, and some parts of the country. >> the government has announced plans to spend more on infrastructure. do y
. >> what was the reason for the unexpected deficit here? are people saying this is likely to go on? >> the current account deficit was larger than expected -- it was expected to be quite small. the real reason was the weaker yen boosting the cost of energy imports and exports of cars and other products not keeping pace with that. japan's trade deficit is continuing. -- current-account deficit people are saying there is not going to be a permanent one but the trade deficit is going to continue for the foreseeable future. some economists have said the import ahead of the sales tax rise -- people are importing more housing materials and other products because people are expected to by those in the next five or six months. factor another temporary which is causing this deficit. >> thank you, james. down going to be breaking the latest economic data from china. ."ming up next on "on the move ♪ the scene at the moment at the imperial palace in tokyo. we had some weaker than expected growth. 1.9% up.economists say a weaker yen just above the 103 level helping exporters. take a look at w
are not going to sink our economy. plus, the annual deficit is dropping fast. according to the congressional budget office. in the fiscal year, the deficit as a percentage of g.d.p. dropped by 37%. there are still some challenges for the u.s. economy. but the current -- if the only thing congress does right now is to get out of the way, that itself would be progress. and that's our show for today on tuesday, the winners and losers in wall street annual bonus sweep stakes, in for ali valshi, thank you for joining us. homeowners, one minute home he is. what is going on. talk rabbiting numbers we have more homeless school age kids in america than ever before. >> right. >> so we have to have a whole new conversation about american
an end to the war on budget deficits and pledging to fight the deficit of opportunity for the poor and middle class. in a speech wednesday on his economic priorities, the president said the federal deficit is under control and doesn't present a serious threat to the economy. he focused on the gap between the rich and the poor and making the case for raising the minimum wage to more than $10. while extending unemployment benefits. >> we know that we're going to have greater and greater portion of our people in the service sector and we know that there are airport workers and fast food workers and nurse assistants and retail salespeople who work their tails off and are still living at or barely above poverty and that is why it's well past the time to raise a minimum wage that in real terms right now is below it was than when harry truman was in office. >> republican leaders quickly took issue with the president's poach. house speaker john boehner suggesting the president's policies created the very problems that he described. >> meanwhile republicans and democrats are trying to hamme
the double-doubles. washington, our chief washington correspondent. you want to talk about the deficit. this will not go away. are people actually concerned about high deductibles? >> you certainly have a lot of republicans who will talk about it. there talking about the problems with healthcare.gov and they are also talking about the way the rubber meets the road. the prices that they are paying for premiums that are out there and the deductibles are going up as well. this is another talking point for them. they have criticized the health care law. we will have several members on capitol hill and this is one of the questions they will have to answer. rollout, theo the website is operating better. they will make this point over and over. >> lawmakers actually have a deadline of their own to sign up for the affordable care act. how is that going? >> there is actually a different website. technically, they are members of a small business. that is the congress of the united states. they are operating off of the d.c. exchange. the deadline is december 23. december 9 is the deadline for mem
. had he to raise taxes in order to cut the $11 billion deficit. raising taxes is not something that's designed to make you very popular as well as cutting government spending. i spoke with the finance minister and he's pretty b buoyant. the public outcry on that, people are pretty pleased. i did ask him, is this just kicking the can down the road. take a listen. >> we have to reduce government expenses in a way that will not hurt all the services we want to give to the government. the fight for efficiency in all the governments around the world is a hard fight. we know now things we didn't know before about how to do it because we've been doing it for quite a while. this is why things are better now. i think we're going to have a new fiscal rule which will allow us to reduce government expenses in a way that will allow us not to raise taxes. >>ing where do you see that in order not to raise taxes in 2014, 2015. >> i can tell you we're not going to hurt the budgets of education because we are an education modulated government and of course health and welfare. these are the budgets th
, and the speaker said this himself, he did not want to include savings from the farm bill as part of deficit reduction or sequester replacement even though they called for that in their budget. what they are saying is that do not want to take away some of those big agriculture subsidies as part of this effort. they would rather pick on middle income taxpayers. we believe when you are replacing a sequester, you need to do it in a way that calls for shared responsibility. finally, as the leader said, wo ay's after christmas -- days after christmas unemployment compensation for millions of americans runs out. one woman testified that she lost her job because of the sequester. she worked in a biotech company and because of the cutbacks in places like nih, she lost her job. she has been looking hard for a job and cannot find it. she has a stack of letters two feet high in terms of her job applications. these are hard-working people who have been working hard, lost their jobs, are still looking every day, and the final point i want to make about that is it is not only the right thing to do to help
for around the globe. >> president went on to say that a so-called deficit of opportunity, interesting phrasing there, is much more important than the fiscal deficit, the yearly fiscal deficit in this country which he points out is actually shrchging in his administration john. >> point out, this issue about the young people are disappointed with president and congress. >> part of the obama coalition that got him elected twice is young people, so-called millennials. folks at harvard has a unit that polled these folks. 18 to 25, bad news for the president, festival his approval rating down to 41%. that is a reflection of the population at large but down 11% since just this spring. and john earlier the president did some work to shore up the forecast, the so-called -- shore up the rveght affordable care a% of millennials disapprove of the affordable care act. have no plans to sign up. that's disappointing news. >> the numbers behind inequality could be surprising for many. jonathan betz has a closer look at what the president says is an economic inequality gap. >> simply put the poor are
, and that deficit can compound itself over time. and finally, rising inequality and declining mobility are bad for our democracy. ordinary folks can't write massive campaign checks or hire high-priced lobbyists and lawyers to tilt the playing field in their favor at everyone else's expense, and so people get the bad taste that the system is rigged. and that increases cynicism and polarization and it decreases the political participation that is a requisite part of our system of self-government. so this is an issue that we have to tackle head on. and if in fact the majority of americans agree that our number one priority is to restore opportunity and broad-based growth for all americans, the question is why has washington consistently failed to act? and i think a big reason is the myths that have developed around the issue of inequality. first, there is the myth that this is a problem restricted to a small share of predominantly minority poor. this isn't a broad-based problem, this is a black problem or hispanic problem or native american problem. it's true that the painful legacy of discrimina
financial burden, a huge problem that is going to blow our budgets and our deficit apart. that is what the american people are looking at command that is why, you know -- lou: they are not looking at that, if i may. you know, they may, as they read your book, as they listen to dr. brown and his colleague, but the reality is, they're looking at a train wreck. the expression was used to describe the website. it is so monumentally massively more than that that it is incomprehensible. the number. $17 trillion. 9 million people added to the medicaid rolls. we are looking at an explosion of entitlements and debt and possibly devastation to the deficit and to the country if we don't get in charge of it. >> you are absolutely -- >> this president seems to have no sense of what to do. i will give you the last word here congressman, but it seems the republicans don't have the answers either. >> you are absolutely correct. it is monumental. needs to be totally ripped out by the roots and replaced with something such as my patient option act. we do have some republicans and democrats that wants to
to replace the savings so it would not add to the deficit by increasing some government fees and perhaps requiring higher contributions and maybe a workers 60 52 $7 billion deal. it would be an agreement on the level of discretionary spending or the appropriations bills for the next two years. is this a large or small deal? caller: this is not what you would call a brain -- a grand bargain. they deliberately set it pretty modest target. finding some of sort of agreement for this year, this year's appropriations levels and possibly next year year's, they would target that. talking about the prospects of a budget deal this morning. you are welcome to join our conversation. democrats -- this weekend rob -- talked about the prospects of a budget yield and affording a government shutdown. [video clip] >> can you get an extension if you -- can you get an extension if it is paid for? >> that is $25 billion nobody was talking about until last week. it is an additional cost within this budget agreement. i'm glad to hear my colleagues say that it is not necessarily a sticking point. i think there
is a healthy and urbanization, but we did have a deficit. one of the challenges to address was to know longer have a deficit. it created an entity that would enable a structure that would enable one to receive money, and those who gave money to get tax deductions was key. so we got a new irs status, c3 charitable foundation, and we also received chi museum.s the nogu prior to that, the noguchi foundation which was the museum was a program of. >> how would you describe the work of noguchi to those are not familiar with this culture or art? york, mother was from new his father was japanese. he called himself a global artist at the time. it was before the motions of multiculturalism and biracial. he was born in 1904. he was extraordinarily prolific in that he worked in parks, landscapes. he was a precursor to all of the artists that went on to be known as earthwork artists. he did parks, playgrounds, theater curtains, theater sets. he had an association with martha graham for 50 years. many people do not realize the big stainless steel piece in rockefeller center, which is in the building, he di
retreated to a seven-week low after the country posted a bigger than expected trade deficit in october. but india as performed opposed strong opposition. now for individual movers, chinese telecom equipmentmakers succumbed to profit taking. zte tumbled almost 6%. meanwhile datang telecom down almost 7%. just one day after the issuing of these licenses, a deal is signed between apple and china mobile. according to "wall street journal," this could mean china's largest telco could start to offer isos on its network to 700 million subscribers. it could potentially draw a larger custoday. it's competitor gained 0.25% in china telecom. back to you, ross. >> thanks very much for that, sixuan. carl icahn announcing a tweet that he would submit a proon posal to apple shareholders for a 50 billion buyback program. that's lan than the 150 become buyback program he was previously pushing for. >>> well, we have heard from the japanese economic minister, amari, it was he's been with early stage tongue cancer. he's offered to resign, but the prime minister has refused his request. he remains in the
had anything close to such a sustained job deficit after any recent downturn. it has been said in opposition to an extension that the federal emergency unemployment compensation program was adopted for extraordinary circumstances that are disappearing. no. no. these extraordinary circumstances continue, as indicated in the report issued just this morning by president obama's council of economic advisers. it highlights that the current long-term unemployment rate is at least twice as high as it was at the expiration of every previous extended ui benefit program. the extraordinary circumstances continue. the report also sets out the economic impact of a failure to act. it agrees with cbo and other economists. allowing the federal ui program to expire will cost our economy at least 200,000 jobs next year because of reduced consumer demand. for this congress to ignore the national economic impact would be shortsighted. to ignore the human, the individual human impact would be coldhearted. that is not the better nation -- the better nature of our nation. i trust of this congress. th
chance of having the least amount of deficits or making a full recovery. >> reporter: 24 hours later, word reached the crew, the boy was doing better, so much that he is expected to make a full recover. >> wow! it is the best early christmas present that all of us could imagine. >> reporter: just another day on the job at fire station 23, saving lives along the way. brian webb, kpix 5. >> that toddler's grandmother dove in after him. she was also taken to the hospital, treated for hypothermia. she is expected to make a full recovery, as well. >>> bart's two biggest unions are working on a lawsuit against the transit agency over their contract dispute. "the examiner" reports a union official expects a suit could be filed this week. the issue is that tentative contract that union members are proved back in october. bart's directors removed a family leave provision before they voted to ratify that deal. >>> today there's a new 600- foot-long barricade at the [ indiscernible ] to halt a dangerous stunt by commuters just off highway 121 near the intersection with 37. that's where the traf
deficit over time, we had an $18 billion overhang. and so we were never able to go out and increase revenue. so the only way we stayed alive quite frankly is through cuts. and we cut everything that we could, but unless there is more investment coming into the city, and a new stream of revenue, there was no way to -- i guess to fix the problem, so now with bankruptcy eminent, i think our debt off of our balance sheet would be less than it is today, and that is going to be a positive on a going forward basis. >>> the mayor of detroit responding to a federal judge's ruling that detroit can proceed with its bankruptcy filing. bisi onile-ere is live from detroit. what is the reaction there. >> as you can see me there is a group gathered. and you have been very outspoken through this whole or deal. were you disappointed by the judge's decision? >> we were very disappointed. he basically found that terminating the pensions is legal. >> reporter: a lot of people are worried right now because of the ruling that came down. >> we're continuing to pursue all of our options. we hope to negotiat
-term consequen consequences and builds deficits into our future. we need to take those into account as you all craft policy, we as advocates promote policies. this is not just an immediate problem. it's a long-term crisis for our country. >> i would love to hear from you all. are people saying, hey, lisa, vera, we would hire you, but we know you wouldn't stay here for this $8 an hour, so therefore, we aren't going to hire you? >> representative moore, here is how i want to answer that. you can't prove age discrimination, but i lost my job of 14 years two weeks before i turned 50. two black happy birthday balloons were very appropriate this year. on the online job applications that you are forced to fill out, they make you put in the dates of your college degree or you can't go further. you have to put in a date. so yes, can you prove it? probably not. so here is what i was on the verge of doing. i have a friend in the billboard business. we were going to put a billboard, and i'm totally serious, and if you knew me, you know i'm serious. >> i think i know you. >> i was going to put a billboard
is in the vine. it tells us if the vine is in a deficit or doing fine. >> with this, we can actually save water, which is an important thing. >> especially in california which seems like its been in remember. >> by eliminating water at the right times and by giving water at the right times, we can have those berries grow small. the smaller the berries, the buser the skin to juice ratio is. that means more robust, big, juicy wines. >> innovative technology also fine tunes the work at the crush pad. here, alias programs the optical sorter to choose grapes based upon a specific color. only the right ones. everything else gets dump here we notice the change almost overnight. the wine is only 5 or six days old. fresher, cleaner, more focused. it was we are going to check out a red wine ferm entation. >> what was sorted earlier? >> it looks look luke soup. >> they communicate with alias via wi-fi. >> if it gets too hot t will send me an alarm. fe fermentation team. >> i get a text and phone call. i have them at 2:00 in the morning sometimes. >> even the aging process it is technology. >> this was in
about that next in the next segment. . >> a relentlessly growing deficit of opportunity is a bigger threat to our future than our rapidly shrinking fiscal deficit. >> the president on wednesday speaking at the center for american progress. he talked about invoking the fast food workers, liberal economists writing in the new york times responded by writing finally our political class has spent years obsessed which a fake problem worrying about debt and deficits that never pose a threat to the nation's future, showing no interest in stag nateing wages. mr. obama i'm sorry to say bought into that diversion. now, however, he is moving on. isaac, do you share that reading that paul had, two, three years ago, everybody in washington was old souls on a deficit reduction including the president, himself, now even president obama is showing publicly an inclination to show that warren style populism. >> i think the rhetoric has changed. just to go back to the last seg him, jonathan was saying the tea party has people in washington. there is elizabeth warren. i think if it's going to come, it'
flow deficit. we get 10,000 beneficiaries every day and the absence of general reform that allow people to get the care that they need and deserve and abby slover cost growth it will fall under its own financial weight. >> for the secretary to affirm, $500 billion that isn't really chump change in the big picture of health care costs. i am getting comments from constituents in the district who medicare advantage folks now their benefits are being reduced. they are losing access to their preferred physicians. this is under the current system now. my question is how much worse can this get for my seniors who opt out for medicare advantage? again if the strategy for controlling costs is a traditional one of just cutting the provider members and whether its doctors, hospitals, it will backfire. that approach without reform that gives you the prevention and coordination and the better care congress ends up having to put the money back in because you haven't solved the problem. to not put the money back and is tonight bullies i -- deny seniors care. >> to have access to dialysis and the like
administrations have danced around the mission of our infrastructure deficit. for all the attention to the various fiscal cliffs, the looming infrastructure deficit is every bit as critical. for two centuries, infrastructure was a bipartisan issue, from lincoln with the transcontinental railroad to democrats and republicans coming together to launch the interstate freeway system, signed into law by president eisenhower, subsequent roads, transit and water investments helped fuel our economy and tie the nation together. more recently, the failure to address long-term funding has also been bipartisan. the bush administration ignored strong recommendations from their own private sector experts that they impaneled to give advice. although the obama administration did request and employ some modest funding in the recovery act and has proposed an infrastructure bank and talked extensively and i think sincerely about the need for investment, what has been lacking has been a specific concrete proposal from either party to address infrastructure financing in america. while the political maneuvering has sec
point that out. host: yet the deficit is a problem. k stone.this from mar guest: i think tax expenditures is a big problem. there are tax revenues that we should be taking in which we are not because we are subsidizing a significant amount of what some have termed corporate welfare. billions of dollars to the oil and gas industry, they are making record profits. the tax expenditures are costing the american people in ways that are problematic. host: what would you cut the besides defense? guest: revenues that we have lost that would otherwise should take in. other than defense, there is waste and inefficiencies in a wide range of domestic spending programs. i am willing to take a look at almost everything. i think the demonization of social security and medicaid are inappropriate. they are not responsible for the deficit problem we have right now. ronald reagan in a debate with walter mondo and clear social security has nothing to do with the deficit. it was true then and it is true now. att in plano, texas. caller: thank you for taking my call. food stamps is not one of the
their budget deficit targets. the brussels, frankfurt, berlin group will be trying to force them to comply. >> charles dumas, staying with us. >>> coming up on today's show, let me tell you what's ahead. taper talks go into overdrive as markets await the u.s. jobs report. but as experts look at last month's numbers, we assess how this could affect strategy. >>> and capital markets dry up in the sector, we'll discuss where to find value at 1020 cet. >>> the race is on to name asia pacific's number one tech hub. we'll take a look at the fastest growth technology firms. >>> and world cup fever hangs in the balance as nations find out who they are playing. we'll discuss the travel implications at 1045 cet. ya know, with new fedex one rate you can fill that box and pay one flat rate. how naughty was he? oh boy... [ male announcer ] fedex one rate. simple, flat rate shipping with the reliability of fedex. >>> deal or no deal? the wto is trying to reach an agreement. >> the right to food security of the poor people, then only they will be saved. strengthening of wto is a shared responsibility of
's first democratic governor in 20 years. he faced the largest per capita deficit in the country. total debt of about three point $5 billion. he did several terms as mayor of stamford, connecticut, promising to make 2012 the year of education. in connecticut, he tackled a reform agenda in a state that has long been known for one of the nation's widest racial achievement gaps. the governor took the lead in passing one of the nations more dramatic education bills. it was public act -- some of the packages required a new teacher evaluation pilot in which 45% will be based on student learning. the governor's package created a commissioners network similar to the recovery school district. it has the ability to take authority over 25 of the state's lowest performing schools. an increased charter school funding. the figure will go to 11,500 by fiscal 2015. >> it is great to be with you. i appreciate the opportunity to speak about an issue that is very dear to my heart. i like to talk about what really needs to happen in the united states and put it into an appropriate context. we have been at
chairman in d.c. and governor of ohio with the largest deficit in our history now balanced with a surplus, we want to get them to focus on doing their job. we all have to get behind this, republican governors, democratic governors. we have $17 trillion debt. it is sucking a lot of the life out of our country. we have the chinese using american dollars that they take from us to recycle in places around the world with the influence they have. we've got to balance the budget. it will restrain them. it will lead to greater economic growth. it is time to get back on this again. i think it is one of the most important issues the country faces. it will be interesting to see if democrats and if liberals recognize the fact at some point they have to be responsible in that town and meet the challenge of these deficits. >> you have been fighting it your entire public life. that is exciting. let me ask you. i have been struck since i'm in here by how many people are concerned that the republican party will repeat the same mistake in washington, d.c. that they made over the last several months. you kn
manning and the broncos erased a deficit. manning threw for five touchdowns. four to eric decker. they win 35-28. >>> steph curry hit two free throws late to give the warriors the lead but the kings had the last shot. >> isaiah thomas playing beat the clock. thomas to the rim, andrew bogut blocks the shot! he got the rebound, warriors win! [ applause and cheers ] >> andrew bogut came through with the big block. and the warriors win it, 115- 113. warriors starting to get the momentum back, just wait until they get andre iguodala back in the line-up. that will do it. everybody, have a great day. >>> thank you, vern. play of the day from the broncos-chiefs matchup. denver's running back.... knowshon moreno... stole the show with some denver runningback moreno stole the show with interesting moments. first he cried during the national anthem just gushing out then the crawl comes after he was finally brought down by what seemed like the entire kansas city defensive line. and there he goes. doing the worm out there. moreno's moment today's play of the day. the broncos won, too. >> they did win.
the disaster. the ever growing government deficits, debt, doubling of people on welfare, what do you think in the privacy -- i know you spend time reading and you are a student of history. what do you think privately will happen to this country? >> i think -- hmm. i think that we are -- >> in trouble. >> yeah. i think we are in a situation that we will either rise and be our best sefls. i saw something over the weekend. 70% of americans don't trust each other. if that remains true, well, we become europe. we have to trust each other. we have to be our bet sefls. otherwise we breast cancer up and never come back. there is a good chance that with the mike lee and the ted cruz of the world we do to the republican party what happened to the wigs. there was no third party. there were 20 republicans. by 1860 they had a president elected. i think that can happen in a faster time because of the internet. the if people stick to their principles and the people of the country remain good and decent to each other. if we believe the things that we are playing "knockout" and fighting over a few extra bu
's infrastructure deficit. roads, bridges, transit systems are all increasingly at risk. we are facing an inadequate state of repair, construction of new facilities are on hold and we are losing ground in meeting our own needs, let alone the challenges of global competition. yet, this challenge is an opportunity for some potential progress. we know what to do to meet this challenge. we can write a new transportation bill that will meet today's needs. it just needs more money. there is a vast coalition that supports additional resources for infrastructure. the so-called special interests that are so often at odds are remarkably aligned when it comes time to recognize and fix this problem. business, labor, professional groups, local government, environmentalists, truckers, bicyclists all agree. the paralysis that surrounds questions of raising taxes does not necessarily need to apply in this case. ronald reagan, after all, was willing to sign into law a five cent gasoline tax increase 31 years ago when a nickel a gallon was real money. a user fee is in fact a different category from a general tax incr
are facing for all the talk of a budget deficit, we're facing an infrastructure deficit. and because we have just sort of run the gas tax trust fund down to where it's approaching zero, if we don't do something in the next ten months, we're going to face an inability to fund any transit funding next year, and the federal highway funding will drop 92%. >> what's happened to all the money we have already allocated, not only through the gas tax but states, municipalities and surcharges and -- where has that money gone. >> look around you and see in every community. we have had a dramatic reduction in the amount of money that has been available over the course of the last ten years. as i say, you haven't raised the gas tax in 20 years. >> but we have more gas revenue coming in because more people are driving and just demand -- >> that's not the case. >> is there a way to assure this in a lock box so it's intend for just that purpose? we do have a lot of other means by which we raise money to help our infrastructure, and our infrastructure still sucks. >> first of all, if you hadn't raised a fund
washington post" says it would roll back some of the cuts and take action to reduce the deficits. overall it may not be the grand bargain some were hoping for. negotiators have been trying to find common ground since october as part of the grooemted thagre end the government shutdown. >>> so south africa. the nation and the world gather to remember nelson mandela. sunday was a national day of prayer in south africa with millions paying their respects to the former president. the preparations are now under way for a memorial service that will bring dozens of world leaders, including president obama, to south africa starting today. robin kurnow is outside mandela's home this morning. you've just spoken to one of his closest confidants. what did she say? >> we are hearing for the first time what is going on inside this house behind me. the home where nelson mandela died. we have been seeing a lot of people coming outside in the past few days laying flowers, paying their respects. we understand according to african tradition, nelson mandela's wife is sitting on a mattress in the living room i
would push off demands for deficit cutting. the president has said the deficit should take a back seat to jobs right now. there are also tense negotiations over cutting hiking security fees. and lawmakers also talking about partially repealing the sequester spending cuts. proposals to extend jobless benefits for the long term unemployed have also hit a snag. the president says those benefits are critical for many families, and he pushed the gop on that issue this weekend. >> for many families, it can be the difference between hardship and catastrophe. last year alone, it lifted 2.5 million people out of poverty. and cushioned the blow for many more. but here's the thing. if members of congress don't act before they leave on their vacations, 1.3 million americans will lose this lifeline. >> did you hear that? there might have been a little shade there for republicans on the hill. they are giving themselves another long vacation starting friday. on the other hand, some conservatives now say opposing unemployment benefits is their way of helping the unemployed. >> i do support unemploymen
in october from a deficit in the previous month. moving on to currencies, the dollar is gaining momentum against the yen. dollar/yen currently changing hands at 102.78-81. analysts say rising long-term u.s. interest rates are helping boost buying in the u.s. currency. the euro/yen is being quoted at 139.21-24. >>> in other business news, u.s. online shopping giant amazon is hoping to bring the future a step closer. it's trying to deliver packages directly to your doorsteps using small unmanned aircraft. the company has unveiled a test video of a small drone with eight propellers carrying merchandise in a little box. the drone is equipped with a gps system. it can carry packageswaring up to 2.3 kill am gras each. the company aims to deliver packages from distribution centers within 30 minutes. ceo jeff bezos says this is no science fiction. he says the service could be technically ready in four to five years. but bezos adds that u.s. aviation authorities will need to drop regulations for unmanned aircraft before such a service could get off the ground. >>> fast food chains in japan are co
throw deficit. but the way to do it, and tragically the bankruptcy court can't order the state to kick in a little money, to put back the $47 million they paid, that's the way to do it. so -- >> so if they wanted to reinstate that revenue sharing they took away, you could create a cash flow to get their head above water? >> yes, and you could do it that way ininstead of bankruptcy. >> when you look at the number of bills passed by the house and the paltry number of bills passed by the senate you can see where the problem is. >> yes, we can. and we'll talk about it next. >>> there are eight, count them, eight legislative days left in the first year of the 113th congress, and it is on pace to be a record breaking one. the least productive congress in the history of the american republic. the first session has passed 52 laws so far, easily making it the least productive first session of any congress in history. it is lowest than the least productive first session that happened to be from the last congress, the 112th. this may why congress's approval rating hit an all-time record low. cong
. caller: good morning, america. in 2008, obama came in. a budget deficit. $9.6 trillion deficit. in, america hired democrat congress, senate, president. they stuffed obama down our throats without any consent from republicans. here we are $17 trillion in debt. benghazi, mexico. people whove the believesnd what obama -- shutting down businesses. these democrats have done enough. harry reid has not passed a budget in this country in six years. where is the outrage there? we have no budget. where's the outrage? we are a country with no budget. you run your household with no budget? they are stealing the money to go back to the campaigns, to a democrats. wake up and look at the democrats -- facts. this guy's a socialist and that is what will be coming. god bless us all. host: former president bill clinton weighed in on the health care law i while ago, saying that the president should keep his pledge on if you like your you -- insurance you should keep it. was interviewed yesterday and asked about why he made those comments. [video clip] is it because you are setting the way for mrs. cli
-off family. which means by the time she starts school she is already behind. that deficit can compound itself over time. and finally rising inequality and declining mobility are bad for our democracy. ordinary folks can't write massive campaign checks or high-priced lobbyists and lawyers to secure policies that tilt the playing field in their family and at everyone else's expense. so people get the bad taste that the system is rigged. and that increases cynicism and polarization and it decreases the political participation that is a requisite part of our system of self-government. this is an issue that we have to tackle. if in fact the majority of americans agree that our number one priority is to restore opportunity and broad-based growth for all americans to question his why ask washington washington -- why his washington consistently failed to act? i think a big reason is the myths that have developed around the issue of inequality. first there is the myth but this is a problem restricted to a small share of predominantly minority people. this isn't a broad based problem or a black problem
this thing with take off area >> i think there has been a huge miss focus .n the budget deficit it is really a long-term problem. the key thing you want to do right now is get the economy back on its feet and coming along. you are actually slowing that recovery down. i think it is just misguided policy. we do not expect that to last forever. we are also saying state and local government coming back a little bit more. that may offset the track we're going to get. >> you just mentioned that modesty oh moderate phrase. as you mentioned, the last four days books contain that wording. should we read anything into that? what does it say about the growth expectations going forward? >> we have seen the fed consistently lower their projections. they have been more realistic. anticipating that growth will pick up, the key issue for the fed, and particularly with a new fed chair coming in, janet yellen is going to be preoccupied in this guiding -- and deciding when to taper and how rapidly to taper. more important like, how to communicate detentions to the markets. landly, the asset purchase cannot go
budget, offering responsible solutions to address the budget deficit, cancel the sequester and grow the economy. last march we offered our budget for fiscal year 2014 as an alternative to the budget that was adopted by the house. the c.b.c. budget makes tough choices. but not at the expense of our most vulnerable communities. the c.b.c. budget offers a concrete plan that both cancels the economically disastrous sequester and then pays for that cancellation. our budget is able to do so while also protecting social security, medicare, medicaid, snap nutrition benefits and other vital safety net programs that protect millions of americans from poverty. c.b.c. budget also reduces the nation's budget deficit by approximately $2.8 trillion over the next decade, compared to the february baseline calculated by the congressional budget office. other ideas have been presented in the past to either cancel the sequester or reduce the deficit. they almost always include significant cuts to social security and medicare. these ideas have included changing the way the social security benefits are c
. he faced the largest per capita deficit in the country. pointdebt of about three $5 billion. he did several terms of -- as mayor of stamford, connecticut. make 2012 the year of education in connecticut, he tackled a reform agenda in a state that has long been known for one of the nation's widest racial achievement gaps. the governor took the lead in passing one of the nations more dramatic education bills. act -- some of the required a new teacher evaluation pilot in which 45% will be based on student learning. the governor's package created a commissioners network similar to the recovery school district and we see hannah. it has the ability to take authority over 25 of the state's lowest performing schools. an increased charter school funding. the figure will go to 11,500 i fiscal 2015. -- 2015.cal 20 fiend you. is great to be with i appreciate the opportunity to speak about an issue that is very dear to my heart. i like to talk about what really needs to happen in the united states and put it into an appropriate context. we have been at the business of educating on a public basis
,000. >> so deficit or not or maybe especially if we have a national deficit. spending money on pell grants is red investment for our taxpayers. >> yeah. i was going correct you and say it's not spending. it's investment. you are correct. thank you. i appreciate the opportunity. the porps of moving as a nation away from a philosophy toward higher education i've lived importance of the degree. but of course the world has changed a lot in the last 40 years. i would say the federal financial aid system is one of the great success story in the history of the federal government. when our goal was access, we have provided access to higher education for people in the country. like never seen before. in a degree that us value. the income won't be higher. people are graduating with disagrees that make their income no higher. we now have to move from a system that provide access alone to one that incents success so making people's lives better. of course, while it's happening. costs have gone up too. people are now leaving if they don't get a degree most often would too argue they're literally worse
. in the long run, what we save shows up as higher paychecks for workers and lower deficits for the government. indeed, the cbo estimates in the second decade, once the aca is in effect it will shave 0.5% gdp off the deficit every year. that's about $80 billion each year in today's economy. the new york times reports this morning that the cost of the aca is headed in the other direction. economic benefits are going up and costs are going down. how do we implement all these benefits to make sure it translates into better care for every american? a lot of the benefits are in place, as i said, americans had been benefiting since 2010 but what we have to do is keep spreading the word so americans know these options are available to them. for americans without insurance, we are working to help get them covered and this is where much of the attention has been since october 1. the new health insurance marketplace will help insure millions of hard-working americans find affordable health care. in states where they are working to make this law work for more of their federal citizens, people are signing
all they have said about reducing the deficit over the next few years, it leaves room for cutting taxes. i think what the uk needs is a rebalancing towards investment and exports. the government realizes this and i think as a consequence it's unlikely to do things to throw additional fuel on the fire of consumption. >> do you think the government is doing enough? are you expecting any measures, say, on planning tomorrow from the troika? would that have helped? we had construction pmis this week very strong, rising like a phoenix out of the ashes. but many suppliers saying the supply side of that market is still very, very underperforming. >> yeah. i mean, when it comes to the supply side of the uk housing market, it really is down to things like change, having a look at the green belt legislation, trying to, you know, incentivize local authorities to watch the yen gauge much more heavily in this planning process than they have up to now. so it's not really about major macro reforms. i think it's about reforming the supply side of the housing market. that's going to take many years
the surplus but they also share the deficits so if there is a regional deficit, the pain will be shared in terms of frankly rolling blackouts if it comes to that. we can hope for a cool summer in the summer of 2016 that's not necessarily a prudent approach. with that i would be happy to answer any questions. >> our next witness is mr. john morrissey and you are recognized for five minutes. >> good morning chairman, ranking member and members of the subcommittee for holding this hearing and the opportunity to testify. as i acknowledged there is a significant change occurring on the energy landscape. the operation in america has experienced only a modest incremental change over the last decades yet in recent years the development of new technology is bringing much more rapid change to the system that can't be disruptive. i think embracing these changes will allow a much more efficient utilization of energy resources. the challenge before us is to enable the system to be more efficient through the utilization of technology and foster the development of a diverse set of competitive energy r
, loss of bladder continents, and the deficits of treatment are currently outweighing the benefits. so that test is no longer recommended. the numbers are pretty clear that the overdiagnosed of early breast cancer happens in many cases as well, and there are a number of things that are being undertaken to try to improve the situation clinically. from the point of view the national cancer institute, the thing we are trying to solve is the question of how we can take these early abnormalities and apply new kinds of tests to distinguish between those that are likely to evolve into life- threatening illnesses and those that are simply the nine -- benign abnormalities that would not cause serious symptoms or life-threatening situations had they not been detected. host: we're talking with leading researchers about their areas of expertise at the nih. dr. harold varmus is the director of the national cancer institutes. al is joining us from cambridge, ohio. caller: good morning. it is a pleasure to be able to talk to a doctor out here after working for 40 years at a good job but cannot seem t
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